CYBR.TO vs. ^GSPC

Last updated Jun 4, 2026

CYBR.TO (Evolve Cyber Security Index Fund - Hedged Units) is fund fund, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, CYBR.TO returned 9.43%/yr vs 15.58%/yr for ^GSPC. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

CYBR.TO vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CYBR.TO is traded in CAD, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CYBR.TO achieves a 35.74% return, which is significantly higher than ^GSPC's 12.12% return.

CYBR.TO

• 1D: -3.36%
• 1M: 30.12%
• YTD: 35.74%
• 6M: 27.94%
• 1Y: 24.21%
• 3Y*: 25.26%
• 5Y*: 9.43%
• 10Y*: —

^GSPC

• 1D: 0.00%
• 1M: 7.35%
• YTD: 12.12%
• 6M: 10.22%
• 1Y: 28.58%
• 3Y*: 22.37%
• 5Y*: 15.58%
• 10Y*: 14.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CYBR.TO vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	35.74%	2.14%	13.45%	44.51%	-37.17%	5.69%	66.99%	24.97%	5.96%
^GSPC S&P 500 Index	11.75%	11.05%	33.90%	21.49%	-13.70%	25.75%	14.29%	22.54%	-0.23%

Correlation

The correlation between CYBR.TO and ^GSPC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018	0.51

The correlation between CYBR.TO and ^GSPC has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

Return for Risk

CYBR.TO vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CYBR.TO

CYBR.TO Risk / Return Rank: 22
CYBR.TO Sharpe Ratio Rank: 24
CYBR.TO Sortino Ratio Rank: 23
CYBR.TO Omega Ratio Rank: 25
CYBR.TO Calmar Ratio Rank: 20
CYBR.TO Martin Ratio Rank: 18

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 71
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 72
^GSPC Calmar Ratio Rank: 67
^GSPC Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CYBR.TO vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CYBR.TO	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	0.86	2.46	-1.60
Sortino ratio: Return per unit of downside risk	1.30	3.32	-2.02
Omega ratio: Gain probability vs. loss probability	1.17	1.47	-0.30
Calmar ratio: Return relative to maximum drawdown	0.87	3.24	-2.38
Martin ratio: Return relative to average drawdown	1.84	12.23	-10.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYBR.TO vs. ^GSPC - Sharpe Ratio Comparison

The current CYBR.TO Sharpe Ratio is 0.86, which is lower than the ^GSPC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of CYBR.TO and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CYBR.TO	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.46	-1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.05	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.99	-0.41

Drawdowns

CYBR.TO vs. ^GSPC - Drawdown Comparison

The maximum CYBR.TO drawdown since its inception was -44.40%, which is greater than ^GSPC's maximum drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for CYBR.TO and ^GSPC.

Drawdown Indicators

	CYBR.TO	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-27.59%	-16.81%
Max Drawdown (1Y) Largest decline over 1 year	-28.10%	-8.86%	-19.24%
Max Drawdown (3Y) Largest decline over 3 years	-28.10%	-19.23%	-8.87%
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	-22.60%	-21.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.59%	—
Current Drawdown Current decline from peak	-4.12%	0.00%	-4.12%
Average Drawdown Average peak-to-trough decline	-12.93%	-3.51%	-9.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	2.34%	+10.85%

Volatility

CYBR.TO vs. ^GSPC - Volatility Comparison

Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) has a higher volatility of 12.24% compared to S&P 500 Index (^GSPC) at 2.69%. This indicates that CYBR.TO's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CYBR.TO	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	2.69%	+9.55%
Volatility (6M) Calculated over the trailing 6-month period	24.55%	8.85%	+15.70%
Volatility (1Y) Calculated over the trailing 1-year period	28.30%	11.70%	+16.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.60%	14.99%	+12.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.69%	16.33%	+10.36%

Frequently Asked Questions

Can I hold both CYBR.TO and ^GSPC in my portfolio?

CYBR.TO and ^GSPC have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.